From a rookie standpoint its been a lot of uncharted water going after a commercial property in another state, even if it is under $200k.

It took A LOT more time than we planned and we aren't rookies.

It took A LOT more time than we planned and we aren't rookies.

By taking steps to minimize your exposure to risk, you can avoid large, costly errors that will cause you the biggest headaches.

He misidentified mailing address as property address, and however many cards were in that same batch all suffered the same error, if not all time.If you are running a business with infinite upside and potential life altering downside, take the time to make sure your data is right. 

Would it make sense to get some sort of error or workmans comp or some sort of insurance? 

Also make sure they have Errors and Omissions insurance. 

It seems like larger apartment buildings are generally better maintained than SFHs and are a bit more turnkey (although this could simply be an error in perception on my part). 

If I've left out any pertinent info or if you see any obvious errors in my analysis, please tell me!!!!!!

Some realtors try and use the traditional 6-7% cap rates when pricing, but these units tend to sit on the market for months and end up being bought by seminar grads and rookie investors.Also Mary if you are interested in units from 2-8 here in KWC, I would be happy to send you a couple listings to look over and analyze for investment purposes, give you a feel for the numbers.